Transient Vacation Rentals on Oahu: Socio-Economic and Fiscal Impacts and Policy

Transient Vacation Rentals on Oahu: Socio-Economic and Fiscal Impacts and Policy

Dr. Prahlad Kasturi

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Dr. Thomas A. Loudat

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Radford University

Transient Vacation Rentals on Oahu: Socio-Economic and Fiscal Impacts and Policy

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Abstract

We estimated the socio-economic and fiscal impacts of Short Term Rentals (STRs) on the City and County of Honolulu. The study was commissioned by the Hawaii Vacation Rental Owners Association (HVROA) on the island of Oahu in 2012. The study was aimed at informing the debate on the Planning Commission’s draft bill and underlining the economic consequences of the Department of Planning and Permitting’s announced intent to strengthen existing law and shut down STRs without permits in the near future. Our study showed significant economic benefits to the populace of Oahu. These included contributions to economic output between $752.3 million and $1.10 billion, contributions to earnings between $240.6 million and $339.2 million along with the generation of 7,566 to 9,993 jobs in the County. Several articles appearing in October 2017 both in the Honolulu Star Advertiser and the Honolulu Travel Forum show that Oahu is still looking at Short Term Rental regulation changes. Thus the issue which is an ongoing concern could benefit from the policy discussion in the paper.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

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No ethics committee approval was required for this article type.

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How to Cite This Article

Dr. Prahlad Kasturi. 2018. \u201cTransient Vacation Rentals on Oahu: Socio-Economic and Fiscal Impacts and Policy\u201d. Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 18 (GJMBR Volume 18 Issue B6).

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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GJMBR-B Classification JEL Code: Z13

Submission ReceivedDecember 7, 2017
Peer Review Double Blind
Handling Editor
Accepted December 31, 2017
Published January 15, 2018

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September 7, 2018

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Article Matrices

Total Score: 142

Country: United States

Subject: Global Journal of Management and Business Research - B: Economic & Commerce

Authors: Dr. Prahlad Kasturi, Dr. Thomas A. Loudat (PhD/Dr. count: 2)

View Count (all-time): 157

Total Views (Real + Logic): 3074

Total Downloads (simulated): 1542

Publish Date: 2018 09, Fri

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Total Views: 3074

Total Downloads: 1542

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